FX.co ★ AUD/NZD dropping perfectly towards our profit target

Price has reacted off our selling area perfectly yesterday and is dropping towards our profit target. We remain bearish below 1.424 resistance (Fibonacci retracement, horizontal swing high resistance, descending resistance) for a further drop towards long-term profit target at 1.0367 (Fibonacci projection).RSI (55) is also seeing major resistance from our long-term descending resistance line.

Sell below 1.0424. Stop loss at 1.0460. Take profit at 1.0367.